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Behavioral Economics = Psychology + Economics
Psychology is used by economists to explain individual human behavior when an economic model cannot predict or explain a person’s decision. To help explain an individual’s decision, it’s helpful to understand the thought process and emotions that go along with making a decision. The study of psychology and its relation to economics is called behavioral […]
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What the Increase in LGBTQ+ Identification Means for the Economy
Recently, America has seen an increase in the amount of people identifying as LGBTQ+. At least 1 in 6 adults in Gen Z consider themselves as LGBTQ+, and with each younger generation, there are more and more people who identify as LGBTQ+. So, what does this mean for the US economy? Overall, the inclusion of […]
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The Importance of Teaching Creativity
America is a knowledge economy, meaning that we benefit from thoughts, ideas, and education. The amount of creativity and ideas there are can determine the extent of markets, competition, and businesses. Creative industries also create new jobs. In America, if you have an idea, you can capitalize on it, expand the marketplace, introduce a new […]
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Where to Start on Your Journey to Learn about Economics
As a middle schooler interested in economics, there were not a lot of accessible resources to get me started. I was still three years away from taking an Econ class, which I’ll finally take next year. Thanks to some dear friends, when I was in 9th grade, I was introduced to and lucky enough to […]
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How Does Infrastructure Help the Economy?
Organizational structures needed for the operation of a society, or in other words, infrastructure, provides a foundation for efficiency and quality in a community. In history, we learned about how some structures were used to validate or show a ruler’s influence over society. For example, the Pillars of Ashoka, which were built during the Mauryan […]
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Keynesian Economics and The Falcon and The Winter Soldier
If you’ve been watching the new Marvel Disney+ shows that have aired, you’d notice the government in the Marvel Cinematic Universe is facing many problems as a result of half of the world’s population disappearing. They’ve focused on the chaos after the Blip in particular on The Falcon and the Winter Soldier. Talking about government […]
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The Green Paradox Theory
The Green Paradox, a book by Hans-Werner Sinn, provides a detailed and informative view on the economic repercussions of global warming policies that seek to curtail carbon emissions. The book presents how global warming is influenced by economics, and why current policies to reduce global warming are counterproductive. This book was well-researched, and includes many sources, as well as opposing theories. The author also presents a solution that acknowledges both the positives and negative consequences, and how this solution would affect the economy and the environment. I read this book as a newcomer to the world of economics, not yet understanding how consumers and producers influenced each other, and I felt this book explained it perfectly, with a focus on environmental policy.